California Public Employees Retirement System Buys 10,070 Shares of Cullen/Frost Bankers, Inc. $CFR

California Public Employees Retirement System lifted its position in Cullen/Frost Bankers, Inc. (NYSE:CFR) by 9.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,157 shares of the bank’s stock after acquiring an additional 10,070 shares during the quarter. California Public Employees Retirement System owned approximately 0.18% of Cullen/Frost Bankers worth $15,786,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CFR. Bank of New York Mellon Corp boosted its holdings in Cullen/Frost Bankers by 0.7% during the first quarter. Bank of New York Mellon Corp now owns 543,468 shares of the bank’s stock worth $74,499,000 after purchasing an additional 3,755 shares during the last quarter. Illinois Municipal Retirement Fund boosted its stake in shares of Cullen/Frost Bankers by 14.4% in the 1st quarter. Illinois Municipal Retirement Fund now owns 8,942 shares of the bank’s stock worth $1,226,000 after buying an additional 1,127 shares during the last quarter. Sanctuary Advisors LLC grew its holdings in shares of Cullen/Frost Bankers by 2.7% in the first quarter. Sanctuary Advisors LLC now owns 14,693 shares of the bank’s stock valued at $2,014,000 after acquiring an additional 386 shares in the last quarter. State of Michigan Retirement System grew its holdings in shares of Cullen/Frost Bankers by 0.7% in the first quarter. State of Michigan Retirement System now owns 15,164 shares of the bank’s stock valued at $2,079,000 after acquiring an additional 100 shares in the last quarter. Finally, Chicago Partners Investment Group LLC purchased a new stake in shares of Cullen/Frost Bankers during the first quarter valued at approximately $212,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

CFR has been the topic of a number of recent analyst reports. Citigroup lifted their price target on Cullen/Frost Bankers from $131.00 to $145.00 and gave the stock a “sell” rating in a report on Tuesday, June 30th. Cantor Fitzgerald lifted their target price on Cullen/Frost Bankers from $154.00 to $158.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Raymond James Financial reissued a “market perform” rating on shares of Cullen/Frost Bankers in a report on Wednesday, July 1st. DA Davidson increased their price target on shares of Cullen/Frost Bankers from $143.00 to $144.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Finally, Stephens upgraded shares of Cullen/Frost Bankers from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Cullen/Frost Bankers has a consensus rating of “Hold” and an average target price of $152.42.

Cullen/Frost Bankers Price Performance

Shares of NYSE CFR opened at $161.44 on Friday. The stock has a fifty day simple moving average of $148.22 and a two-hundred day simple moving average of $142.40. Cullen/Frost Bankers, Inc. has a 1-year low of $119.00 and a 1-year high of $163.80. The firm has a market cap of $10.14 billion, a price-to-earnings ratio of 15.72, a price-to-earnings-growth ratio of 2.90 and a beta of 0.54. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.05.

Cullen/Frost Bankers (NYSE:CFR) last issued its earnings results on Thursday, April 30th. The bank reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.16. Cullen/Frost Bankers had a return on equity of 15.58% and a net margin of 22.86%.The firm had revenue of $574.84 million for the quarter, compared to analyst estimates of $587.28 million. During the same period in the previous year, the company posted $2.30 earnings per share. Analysts anticipate that Cullen/Frost Bankers, Inc. will post 10.57 earnings per share for the current year.

Cullen/Frost Bankers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a $1.03 dividend. This is an increase from Cullen/Frost Bankers’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Friday, May 29th. This represents a $4.12 annualized dividend and a yield of 2.6%. Cullen/Frost Bankers’s payout ratio is 40.12%.

Insider Transactions at Cullen/Frost Bankers

In other Cullen/Frost Bankers news, EVP Carol Jean Severyn sold 837 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $148.29, for a total transaction of $124,118.73. Following the sale, the executive vice president directly owned 12,712 shares of the company’s stock, valued at $1,885,062.48. This represents a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.14% of the company’s stock.

Cullen/Frost Bankers Profile

Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.

Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.